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Anne has opened up a systematic savings account into which she deposits $500 per month compounded monthly at a rate of 7.8%.How long will it take her to reach $500,000? Round your answer to the nearest tenth of a year.
Income Tax Rate
The proportion or percentage of income that is paid as tax to the government, varying according to income levels or earnings.
Rent Revenue Receivable
This is income that a company expects to receive from properties it rents out but has not yet collected.
Adjusting Entry
An accounting record created at the conclusion of a financial period for the purpose of assigning earnings and costs to the period they were incurred.
Net Income
The total profit of a company after all expenses and taxes have been deducted from total revenue; also known as net earnings.
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